Suburb profile | Manly

The famous ferry ride between Sydney’s Circular Quay and Manly is almost 160 years old.

Over that time, millions of passengers have been taken to the long stretch of beach near north head, but only a fraction have the privilege of living there.

Tucked between Collins Beach and Sydney Harbour National Park lies Spring Cove Estate, a rare patch of undeveloped land which will be transformed into an eco-housing precinct.

Manly’s long-time popularity as a holiday destination is responsible for the high number of apartments and holiday units, particularly near the beaches.

In the past decade, a higher number of owner-occupiers have bought in the area. Manly appeals to people wanting to live close to the beach to gain a sense of escaping from the city while still being a short ferry ride from the central business district.

As prices for waterfront property have risen, holidaymakers wanting a second home have been priced out of the market but Manly did not hold the same prestige as higher-end holiday destinations like Palm Beach.

Areas around the beaches are littered with 60s and 70s apartment buildings and the refurbished units sell well. Older art deco style buildings sell even better and are in high demand.

Manly’s median house price is $1.62 million, $746,000 for units, according to Australian Property Monitors.

Related Quotes

Company Profile

Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.

The prized parcel of land will soon be home to a master-planned precinct. When built, it will include 17 houses, 16 two- and three-bedroom apartments and five two-storey townhouses. Apartments and townhouses have already been released to the market and sold quickly.

Apartments are priced from $1.85 million to $3.5 million. The townhouses are priced from $2.95 million to $3.2 million and the houses from $4.25 million to $6 million.

Expressions of interest for the houses are now open and the properties will be launched to the market in November.

Natural materials will be used in construction, and there has been an architectural focus on allowing natural light and ventilation into the properties.

The properties will be built over 2.8 hectares of land which has views across the harbour towards the city.

The project is a joint venture between Denwol Group and Oakstand Property Group. Oakstand managing director
David Cullen
said the luxurious homes were on one of the most significant pieces of Manly coastline. “Almost a decade has gone into ensuring Spring Cove respects and complements its extraordinary locale and environment," he said.